A total of 5,972 policyholders of five insurance companies will receive Tk 20.15 crore in unpaid claims in the fourth phase of an initiative to settle long-pending insurance claims.
The payment will be made on Sunday under an initiative of the Insurance Development and Regulatory Authority (IDRA), according to an official press release.
Far East Islami Life Insurance has the highest allocation, with 1,074 policyholders set to receive Tk 8.37 crore.
Besides, 3,163 policyholders of Homeland Life Insurance will receive Tk 5.04 crore, while 1,350 policyholders of Padma Islami Life Insurance will get Tk 5 crore.
A total of 344 policyholders of Progressive Life Insurance will receive Tk 1.67 crore, while 41 policyholders of Baira Life Insurance will get Tk 7 lakh.
IDRA said the initiative aims to settle legitimate insurance claims, ensure policyholders receive their dues and establish transparency and accountability in the insurance sector.
In the first phase, Tk 14.51 crore was paid to 2,549 policyholders on September 3. In the second phase, 5,868 policyholders received Tk 23.03 crore on September 14, while 7,641 policyholders received Tk 26.37 crore in the third phase on October 4.
A total of Tk 63.91 crore has so far been paid to 16,058 policyholders in the first three phases.
After completion of the fourth phase, a total of 22,030 policyholders will have received Tk 84.06 crore in four phases.
